Yesterday's short-term technical outlook:
Price respected the 123.2 figure perfectly and the rally into the figure was matched by a swift sell off.
Since then price smashed right into the 121.68 support and buyers showed there presence quickly pushing price up off the level.
We now look to the short-term intraday resistance at 122.45 to keep sellers in control. Only a sustained break above the figure will expose any further upside.
Below the 122.45 figure will keep selling opportunities preferred.
A sustained break below the 121.68 figure is required to expose any further downside on this pair.
I hope this offers some directional clarity on this pair.
Enjoy!
Price respected the 123.2 figure perfectly and the rally into the figure was matched by a swift sell off.
Since then price smashed right into the 121.68 support and buyers showed there presence quickly pushing price up off the level.
We now look to the short-term intraday resistance at 122.45 to keep sellers in control. Only a sustained break above the figure will expose any further upside.
Below the 122.45 figure will keep selling opportunities preferred.
A sustained break below the 121.68 figure is required to expose any further downside on this pair.
I hope this offers some directional clarity on this pair.
Enjoy!
